What is a mixpanel?
Mixpanel is an advanced analytics software that allows you to monitor the actions of internet users who interact with your internet-based application. The software is available for both web and mobile users.
Marketers use this tool to analyze data in real-time to get information such as users who sign up for any service, watch product demos, return users after a long time, or interact with some service or product features.
More than 20,000 customers use Mixpanel in over 150 countries. The platform scans over five trillion data points annually. However, the platform has a higher capacity of monitoring 250 billion data points per query and handles around eight trillion data points every year.
The markets can use the data availed by this tool to understand the demographics of their customers, predict the results, and make decisions based on the behavioral analytics data collected.
Generally, the Mixpanel tool seeks to answer the following questions:
● Who are the most active users
● What features do they use most?
● How to make customers engage with the products longer?
● How to manipulate acquisition flow to attract more users?
● Where is the drop-off in the sales funnel?
● Who are site referrals?
Type of Data Mixpanel Collects
The Mixpanel collects data by giving you a line of code that you feed on your website based on each event you want to monitor. Now, you can set up funnels to track engagement metrics for your website.
Mixpanel has a simple-to-use interface that allows you to see how people interact with your website. The insights you get enable you to improve your product and boost user engagement. Here are ways in which this software helps to improve user engagement:
1. Event Tracking
Event tracking is one of the significant ways Mixpanel can help you to increase user engagement. It offers you real-time information about your users, such as where they come from and their interaction with your product. You can alter or improve your product with the data to increase user engagement.
2. Funnel Utilization
Another way of increasing user engagement for your product is through different funnels. You can employ several funnels depending on what you want the users to do—for instance, signing up, watching a product demo, or purchasing. Mixpanel will give you insights into how users are using each funnel.
You can increase user engagement using trends. The Mixpanel software allows you to analyze different events and how they relate to one another.
4. User Behavior
Different people display different behavior in their interaction with your product. You need to understand every behavior to increase user engagement on your products. Mix panel allows you to know how every user interacts with your product.
Mixpanel analytics tool enables businesses to track their website visitors’ mobile and web events to understand their behavior better. You can quickly check the progress of your campaigns and how customers react to your products. These insights can help you improve your products.